Common use of Failure to Reimburse Clause in Contracts

Failure to Reimburse. In the event that the Borrower fails to make a timely reimbursement, together with any interest thereon, to the Agent on the date of any drawing on a Letter of Credit pursuant to this Section, such failure shall constitute a Deemed Credit Request requesting an Alternate Base Rate Loan in an aggregate amount equal to the amount reimbursable to the Letter of Credit Bank plus any interest thereon. The Agent shall disburse all such loan proceeds directly to the Letter of Credit Bank to satisfy the Borrower's aforesaid reimbursement liability. The obligations of the Banks to the Agent under this Section are in addition to and not in limitation of the obligations of the Banks under Section 0 of this Agreement. In the event that an Loan cannot be legally made pursuant to this Section 0 for any reason, each of the Banks shall reimburse the Letter of Credit Bank in an amount equal to such Bank's Ratable Portion of the drawing on the Letter of Credit.

Failure to Reimburse. In the event that the applicable Borrower fails to make a timely reimbursement, together with any interest thereon, to the Administrative Agent on the date of any drawing drawdown on a Letter of Credit pursuant to this Section, such failure shall constitute a Deemed Credit Request requesting an Alternate Base Rate Loan to be made to such Borrower in an aggregate amount equal to the Dollar Equivalent of the reimbursement amount reimbursable to the Letter of Credit Bank plus any interest thereon. The Administrative Agent shall disburse all such loan proceeds directly to the Letter of Credit appropriate Issuing Bank to satisfy the such Borrower's aforesaid reimbursement liability. The obligations of the Banks to the Administrative Agent under this Section are in addition to and not in limitation of the obligations of the Banks under Section 0 10 of this Agreement. In the event that an Loan Advance cannot be legally made for any reason pursuant to this Section 0 for any reason2.11(g), each of the Banks shall reimburse the Letter of Credit Issuing Bank in an amount equal to such Bank's Ratable Portion of the drawing drawdown on the Letter of Credit.

Failure to Reimburse. In the event that the Borrower fails to make a timely reimbursement, together with any interest thereon, to the Agent on the date of any drawing on a Letter of Credit pursuant to this Section, such failure shall constitute a Deemed Credit Request requesting an Alternate Base Rate Loan Advance in an aggregate amount equal to the amount reimbursable to the Letter of Credit Bank plus any interest thereon. The Agent shall disburse all such loan proceeds directly to the Letter of Credit Bank to satisfy the Borrower's aforesaid reimbursement liability. The obligations of the Banks to the Agent under this Section are in addition to and not in limitation of the obligations of the Banks under Section 0 11 of this Agreement. In the event that an Loan Advance cannot be legally made pursuant to this Section 0 2.8(e) for any reason, each of the Banks shall reimburse the Letter of Credit Bank in an amount equal to such Bank's Ratable Portion of the drawing on the Letter of Credit.